This morning, silver and gold are rallying higher again. The move higher in the precious metals come as the U.S. Dollar Index declines and the tension in the Middle East continues to surge. The iShares Silver Trust(NYSE:SLV) is trading higher this morning by 0.64 cents to $34.05 a share. The high on SLV was made at $34.18 two trading days ago and this is still resistance until it is breached. Should the SLV make a new high today traders should watch for short term intra-day resistance around the $34.50 and $35.00 levels.
The SPDR Gold Shares(NYSE:GLD) are trading higher by $1.04 to $139.13 a share. The popular GLD is still trading below it’s all time high made two trading days ago at $140.55 a share. The GLD will have intra-day resistance around the $140.00 level. As long as central banks continue to create money at an alarming rate both gold and silver can be bought on pullbacks.
Nicholas Santiago
InTheMoneyStocks.com
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InTheMoneyStocks.com is a research and consulting company focused on guiding investors, swing traders and day traders to financial success. Their Chief Market Strategists analyze the markets while making calls on everything from stocks to commodities and currencies. Their goal is to not only guide their subscribers but also teach them their proprietary methods leading them to become investing and trading masters.
Nicholas Santiago
